The price feed for indices on the National Stock Exchange (NSE) has frozen. Nifty 50 has not made any movement since 10:08 AM. The index stood at 14,820.45, up 112.65 points or 0.77%. All sectoral indices on the NSE (Nifty Bank, Nifty Financial Services, etc) are frozen as well. However, the stocks listed on Nifty 50 were being updated in their usual form.
Due to this technical glitch, NSE closed the futures and options (F&O) market at 11:40 AM and the cash market at 11:43 AM. NSE stated that the update for the re-opening will be shared later.
“NSE has multiple telecom links with two service providers to ensure redundancy and we have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system. We are working on restoring the systems as soon as possible,” the exchange said in an official statement.
“Trading is halted on NSE across brokers. We are waiting for it to come back online. For equity orders, you can use BSE,” said Zerodha in a tweet.
Meanwhile, industry majors had commented that the market will open at 1 pm. NSE in a statement to ET Now remarked that this is not confirmed.
An important point to be noted is that all open (or unexecuted) orders will be cancelled before the markets reopen. Thus, cover order (CO) positions on NSE will be squared-off. Cover orders will remain blocked for the remainder of the day, according to a notification by Zerodha.
Meanwhile, stock prices are moving on BSE and trades are open. Sensex is trading above 50,000, no major correction yet happening. You can sell your holdings on the Bombay Stock Exchange, if in need of liquidity.
At around 2:50 PM, Zerodha notified that if NSE does not open for the day, all Margin Intraday Square (MIS) orders and CO orders in the F&O and Currency Derivative Segment (CDS) will get carried over to tomorrow (25/02/2021) with today’s buy/sell entry price.
According to reports from CNBC TV-18 and ET Now, the equity and equity derivatives market on NSE and BSE will be open till 5 PM today. The reports state that Pre-open trade will be from 3:30 to 3:45 PM. Normal trading will take place in all segments between 3:45 to 5 PM.
At 3:40 PM, Zerodha updated that all F&O MIS positions will get squared off at 4:15 PM. Moreover, all F&O cover order (CO) positions will forcibly be squared off by 4 PM. Only Cash and Carry (CNC) and Normal (NRML) orders will be allowed in the extended session today.
At 3:45 PM, market resumed trading with Nifty opening 58 points higher. Nifty re-opens above the 14,800 mark and Bank Nifty re-opens above 35,600 levels.